His main business, based overseas, seems to consist largely of an amateurish website riddled with bad grammar. Its only named customer looked equally flaky, with a phone number nobody ever answered.
When we politely asked him for explanation, suddenly — having bombarded us with messages in the previous days — he disappeared, not to be heard of since.
Could be he is what he says he is. More likely he isn’t.
The company concerned is on the Stock Exchange’s junior market, AIM. Companies there have to have a corporate financier known as a nominated adviser (nomad), whose role is to do due diligence on companies and their directors and ensure they’re fit and proper.
So how come the nomad to this company hadn’t Googled our guy?
How come nobody on AIM ever seems to take responsibility for the scandals there?
How come every time we get a scandal on AIM, nothing gets done until the next one comes along?
Luckily, there are plenty of decent little companies out there deserving of investors’ attention. A suitable swap for our Market Minnows column was easily found.
But negligent nomads and blind brokers ill-serve the SMEs which will power our economy in future decades.
Sadly, for legal reasons, we can’t name this firm. We’re passing our findings to Aim and the nomad. They should.
Retailers on thin ice
Taking the kids ice-skating in yesterday’s snow was magical. But retailers had a shocker on what should be one of their busiest weekends.
Analysts Springboard recorded 22% fewer shoppers than last year. Consumers’ confidence is on the skids as it is, without ice and snow keeping them at home.
